Coinbase Establishes Entity In Ireland To Expand Its Crypto Custody Services To European Institutions
Coinbase Establishes Entity In Ireland To Expand Its Crypto Custody Services To European Institutions
January 31, 2020
Coinbase Establishes Entity In Ireland To Expand Its Crypto Custody Services To European Institutions
Coinbase Establishes Entity In Ireland To Expand Its Crypto Custody Services To European Institutions
January 31, 2020

Coinbase, the major United States-based cryptocurrency exchange, has established an entity in Ireland to expand its crypto custody services to European institutions.

On January 30, it has been reported that the new entity is called Coinbase Custody International and is based out of Dublin.     

However, the firm’s services will be the same as those provided by Coinbase Custody in addition to taking over all the staking activities performed by the exchange. 

Coinbase Custody initially began offering staking for select cryptocurrencies in March 2019 and expanded that service to international the following November. 

While Coinbase Custody has been serving European clients in the United Kingdom, Switzerland, Germany, Finland, and the Netherlands since 2018, a new dedicated entity allows for completely localized service.

As per the report, this will bring the advantages of local staff, localized service-level agreements and clearer compliance with EU law.

ALSO READ :  Cardano Founder Charles Hoskinson Explains Why The University Of Wyoming Is A Better Choice For IOHK Than Harvard

The report says:

“Europe is our fastest growing geographic segment and our international launch is a direct result of client demand. By offering our services from the same region in which our clients are located, it’s our goal that they will benefit from greater legal and regulatory clarity.”

Moreover, Coinbase also said that, over the coming months, it plans to add support for more cryptocurrencies and features to its international custody service.

It has been analyzed that Ireland boasts some of the lowest corporate income tax levels in Europe which, despite the protestations of lawmakers to the contrary, has earned it a reputation as a tax haven.

Thus, the country has the third-lowest corporate income tax rate among OECD countries as of 2019.

Source: blog.coinbase.com | cointelegraph.com


 

Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.